How to use this with source records
Locate the debt maturity and its existing borrowing terms, then state a separate assumed replacement rate and share-count basis. Keep the full-year sensitivity distinct from actual timing, fees and hedging terms.
The Realty Income FY2024 filing lab offers evidence-reading practice only. It is not a completed refinancing analysis and does not supply a replacement-rate forecast.
The calculation
Annual interest change = refinanced principal × (new rate − old rate). Per-share expense change = annual interest change ÷ common shares. Positive means more interest expense; negative means savings.
Check the arithmetic.
Refinancing 200 million from 3% to 5% adds 4 million in annual interest. Across 100 million common shares, the isolated annual interest increase is 0.04 per share.
Assumptions and limitations
Assumes unchanged principal for a full year. Excludes issuance fees, amortization, hedges, taxes, capitalized interest, partial-year timing and changes in share count. The result is an expense sensitivity, not an FFO or AFFO forecast.
The output is an educational scenario. It is not a forecast, a tax determination or a personalized investment recommendation.